The Derek Jeter-backed startup BlueJeans Network, last valued at over $700 million, just cut 40% of its workforce as Silicon Valley's focus on profitability grows

• BlueJeans Network, a video-conferencing-software maker, laid off 40% of its staff, or about 200 people, on Wednesday, Business Insider has learned.
• The cuts are directed at getting the company to profitability faster than expected, according to people familiar with the matter.
• The change at BlueJeans shows how Silicon Valley's growing focus on profitability is now trickling down to smaller startups too.

BlueJeans Network, a video-conferencing-software maker that's raised over $175 million...